Community Development Credit Unions
Page 2

CDCUs are nonprofit organizations with a tax-exempt status. These credit unions are typically owned and managed by its members but are also regulated by the government.

Community Development Credit Unions are capable of offering a wide selection of benefits to its members. Usually, some of the most notable benefits are as follows:

a) The ability to provide fairly priced loans to members who have limited or no credit history.

b) The ability to help its members in the process of saving money.

c) The ability to conduct financial transactions at reasonable costs.

d) The ability to provide financial counseling and education to all of its members.

e) The ability to assist its member during the process of proving services which will potentially help them shy away from high-cost loans, and simultaneously gain more control over their finances.

In cases where banks and other commercial institutions can no longer help, small businesses can turn to CDCUs for financial assistance.

In general, CDCUs are great instruments for providing financial lifelines to low income individuals and communities who wish to gain financial stability and gain traction in the business community.

Community Development Credit Unions
  Back to Page 1

About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on grants for youth programs and home improvement grants.

Additional Resources

category - Small Business Grants

Federal and State Technology Partnership Program
The Federal and State Technology Partnership Program works around the objective of being able to boost and strengthen the technological competitiveness of small business establishments in the United States of America.

---

Department of Agriculture: Value Added Producer Grants
The Value-Added Producer Grants program is geared towards helping the Independent Producers of Agricultural Commodities, Agriculture Producer Groups, Farmer and Rancher Cooperatives, and Majority-Controlled Producer-Based Business Ventures in developing techniques that would create marketing opportunities and establish business plans involving viable marketing opportunities that involve the production of bio-based products from agricultural commodities.

---

Historically Underutilized Business Zones - HUBZone Empowerment Contracting Program
The Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development.

---

Small Business Innovation Research Phase IIB Bridge Awards
In line with this mission, the NIH has recently constituted the Small Business Innovation Research Phase IIB Bridge Awards to Accelerate the Development of Cancer Therapeutics, Imaging Technologies, Interventional Devices, Diagnostics, and Prognostics Toward Commercialization Program.

---